Gov. Phil Murphy spent 11 minutes with talk show host Steve Adubato recently discussing taxes, marijuana, and a handful of other issues. Legalizing recreational use of marijuana is a campaign promise that Murphy has not yet achieved. So will it happen in six months to a year? “I think if you say within a year, […]
WASHINGTON – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income (PDF), and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc (PDF). The changes to the form and schedule aim to improve the quality of the information reported by partnerships both to the IRS and the partners of […]
The House Ways and Means Committee held a legislative hearing Thursday on the Social Security 2100 Act, a bill that would increase the Social Security Tax to 14.8%, a 2.4 percentage point increase or about a 20% tax increase. If enacted, both businesses and employees would see their payroll taxes increase to 7.4% each. The […]
NJBIA President and CEO Michele N. Siekerka, Esq. issued the following today statement regarding the final FY2020 state budget and the expiration of New Jersey’s tax incentive programs. “While we are pleased that the final FY2020 budget does not include any broad-based tax increases, it is important to recognize that this budget is more than […]
NJBIA’s Frank Robinson interviews Senate President Stephen Sweeney on the latest episode of Take on Trenton about the state budget, taxes, legalization of marijuana, and the Path to Progress plan to address New Jersey’s biggest financial problems.